GBP/USD has slid below the 1.61 level, trading at 1.6083. The markets are waiting for the release of the Public Sector Net Borrowing on Tuesday. The market prediction is not looking good, calling for the deficit to increase to 15.6B, up from 12.9B in March. Public Sector Borrowing ballooned last month, as the reading of 15.9B was even worse than the market forecast of 15.0B. This was the highest deficit recorded by the public sector since April 2011. GBP/USD has moved upwards, trading at 1.6158. The pair is now at its highest level since last October. British GDP dropped 0.2% in Q3, disappointing the markets, which had forecast a 0.1% increase. Index of Services was also weak, posting a reading of 0.2%. This was well below the market forecast of 0.6%. The pound is dropping and testing the 1.61 level, as GBP/USD is trading at 1.6099.  GBP has recovered and is moving upwards, trading at 1.6177. Nationwide Consumer Confidence sparkled last month, posting a reading of 53.


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